Finance minister Arun Jaitley and RBI governor Raghuram Rajan on Saturday cautioned against overstating the bad loans crisis in the banking system lest it hamper lending operations and growth, reports fe Bureau in New Delhi.

However, Jaitley said individual misdemeanors will be “looked into differently”. Speaking after the RBI’s board meeting, the FM said: “We don’t want to create a situation where we overstate the crisis and the whole activity of lending for growth itself starts suffering because people become extraordinarily defensive.”

Rajan said “we don’t indulge in a broad fishing expedition”, adding, “as a country and system, we have to draw a balance very carefully and we are hopeful we can manage that.”